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Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I have split with my partner and there is a property we purchased

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I have split with my partner and there is a property we purchased together. We have agreed a "buy out" . What can I do to ensure that there can't be any problems at a later date? Thank you.
Hi, thanks for your question.
Are you married to your partner? What are the terms of the buy-out, and what were the contributions to the property? Was there a previous agreement regarding the property in the event of the relationship ending?
Customer: replied 2 years ago.
Not married and the settlement is a straight cash in return for all contributions. No previous agreement.
How is the property held? For example is it joint names between both of you in equal shares, and is there a mortgage - if so is this also in joint names?
Customer: replied 2 years ago.
Mortgage in both names. Property in both names. Equal share that the cash buy out negates.
Thanks - do you have any children together?
Customer: replied 2 years ago.
No. All things have been divided equally and both parties are happy with that. I wish to remain in the property and want to buy out the other side. A fee as been agreed but I want to ensure no demands can be made in the future. We understand names will have to remain on the mortgage untill the amount loaned is reduced to a level.
Thank you for confirming. As long as the property is transferred into your sole name, she can not make any demands later on.
It may also be wise to have in place a formal agreement regarding the mortgage. Given that there is still that liability that is in joint names, she may seek that she be reimbursed in the event that the mortgage provider pursues repossession and she is made a party to the repossession.
If the land registry is unable to transfer the property into your sole name you would need need to ensure that there is a deed of trust in place for the shares to be 100% in your name and 0% in hers and that she no longer has any claim against it.
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Customer: replied 2 years ago.
Can the transfer to sole name and the deed of trust be completed by the solicitors that dealt with the original purchase?
Yes, that should be fine - but you would need to check directly with them in case they think there may be a conflict, but it should be fine